October 16, 2018
BT has announced a series of enhancements to its quote and application software, and will waive policy fees on lump sum cover for the next two months, as part of the launch of the changes.
Under the enhancements, the software, LifeCENTRAL+, will now allow advisers and their support staff to share information online, and also to apply online directly from research software, using secure data feeds to complete applications and eliminating the re-keying of information.
Additionally, the personal statement section of the application form has been redesigned allowing advisers and clients to answer questions relevant to the application in their own order of preference.
BT stated that in conjunction with the launch of the enhancements it will be waiving all Protection Plans policy fees currently applied to lump sum cover.
This will include term life, total permanent disability and living insurance cover, as well as any income protection cover quoted and applied for in combination with a lump sum policy. The waiver, which will apply until 16 December, 2018, is available for new applications only and will apply for the life of the policy.
BT Head of Product – Life Insurance, Kim Cohen said the enhancements were a direct result of feedback from advisers and will be followed by further updates throughout the year.
“The changes we’ve implemented reflect adviser business models, allowing information sharing between advisers and their support staff, streamlining the application process and making applying for life insurance easier and more efficient,” Cohen said.